print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases REGISTER LOG IN

Press Releases

company search
all press releases
all PIK Group press releases

PIK Group

November 6, 2013

PIK Group finalizes the legal merger of its production facilities

Moscow, November 5, 2013- PIK Group (LSE: PIK), one of Russia’s leading residential real estate developers, announces that it has finalized the legal merger of its two Moscow-based industrial housing plants, DSK-2 and DSK-3 and its transportation services unit PIK-Avtotrans under one production entity named JSC “PIK-Industries”, which began its operations since November  2013.

The merger is expected to provide improved operational efficiency, concentration of expertise and cost optimization and will establish a platform for a gradual transition to new technologies in industrial housing production.

Mr. Konstantin Kuznetsov, PIK Group’s Vice President for Industry and Construction has been appointed as the General Director of the combined entity and will oversee the further optimization and operational integration of processes at PIK-Industries.

The completion of the legal merger marks an important first milestone in the integration project approved by the Board of Directors in 2012 as part of a wider operational efficiency improvement program. This envisages the establishment of a single industrial housing production facility on the basis of DSK-2 plant with unified business processes, capacity management, quality control and investment process. The vacated territory of DSK-3 will be used for new residential development projects.

The new integrated production facility is estimated to have a capacity of 850,000 m3 of reinforced concrete annually which is about 1 mln sq. m of housing.

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer